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Spain's new bankruptcy act

Spanish translation: nueva Ley concursal española (Spanish Insolvency Act)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Spain's new bankruptcy act
Spanish translation:nueva Ley concursal española (Spanish Insolvency Act)
Entered by: Rebecca Jowers
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23:53 Feb 5, 2009
English to Spanish translations [PRO]
Law/Patents - Business/Commerce (general) / Bankruptcy
English term or phrase: Spain's new bankruptcy act
Has Spain's new bankruptcy act, "Ley 22/2003, de 9 de julio, Concursal," been translated to English?
Law Student
nueva Ley concursal española (Spanish Insolvency Act)
Explanation:
It is my understanding that you are asking whether the law has been translated into English. I do not believe it has, although there is good material in English where you could get some vocabulary if you need it.

I do not believe you would want to call this a "bankruptcy act" since under this (relatively) new law, the terms "bankruptcy" ("quiebra"), "bankrupt" ("quebrado"), etc. have been eliminated and replaced with the terms "insolvencia", "insolvente", etc. In Spain the term "bancarrota" is not used.

This article, written by a Rafael Molina, a well-known insolvency specialist in one of Spain's most prominent law firms, gives lots of ES-EN terminology and says that "concurso" should be translated as "insolvency", rather than "bankruptcy.")
Uría & Menéndez - Spain - The Draft Spanish Insolvency Law (17/01 ...
Mondaq Article Service - Uría & Menéndez - Spain - The Draft Spanish ... The Draft Insolvency Law (hereinafter, The "Draft Insolvency Law") is at a very ...
www.mondaq.com/i_article.asp_Q_articleid_E_15240

The new "Ley Concursal" abolishes the four proceedings of the former law ("quiebra," "concurso de acreedores", "suspensión de pagos" and "quita y espera"), establishing a single insolvency proceeding:

"The Draft Insolvency Law only foresees one insolvency proceeding: the "concurso", which implies leaving behind the current Spanish insolvency proceedings; mainly, regarding legal persons, the "suspension of payments" and the "bankruptcy" proceedings. The word "concurso" comes from the Latin "concursus", which may be translated into English as "concurrence". This word clearly conveys the idea of concurrence of creditors and, for lack of a better word in English, I believe the word "concurso" should be translated in this context as "insolvency"."


http://www.mondaq.com/i_article.asp?articleid=15240&login=tr...

Hope this was what you were looking for.
Selected response from:

Rebecca Jowers
Spain
Local time: 20:47
Grading comment
Thank you. Your answer has been very helpful.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1La nueva Ley Concursal de España
Henry Hinds
4 +1"La Nueva Ley de Bancarrota en España"
eski
5nueva Ley concursal española (Spanish Insolvency Act)Rebecca Jowers


Discussion entries: 2





  

Answers


27 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
spain's new bankruptcy act
La nueva Ley Concursal de España


Explanation:
Puesto que aparentemente así se llama.

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Note added at 28 minutos (2009-02-06 00:22:03 GMT)
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Results 1 - 10 of about 39,600 for "Ley 22/2003, de 9 de julio, Concursal".

Henry Hinds
United States
Local time: 12:47
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 545

Peer comments on this answer (and responses from the answerer)
agree  Javier Wasserzug: ¡más que buena razón!!
3 hrs
  -> Gracias, Javier.
Login to enter a peer comment (or grade)

6 hrs   confidence: Answerer confidence 5/5
spain's new bankruptcy act
nueva Ley concursal española (Spanish Insolvency Act)


Explanation:
It is my understanding that you are asking whether the law has been translated into English. I do not believe it has, although there is good material in English where you could get some vocabulary if you need it.

I do not believe you would want to call this a "bankruptcy act" since under this (relatively) new law, the terms "bankruptcy" ("quiebra"), "bankrupt" ("quebrado"), etc. have been eliminated and replaced with the terms "insolvencia", "insolvente", etc. In Spain the term "bancarrota" is not used.

This article, written by a Rafael Molina, a well-known insolvency specialist in one of Spain's most prominent law firms, gives lots of ES-EN terminology and says that "concurso" should be translated as "insolvency", rather than "bankruptcy.")
Uría & Menéndez - Spain - The Draft Spanish Insolvency Law (17/01 ...
Mondaq Article Service - Uría & Menéndez - Spain - The Draft Spanish ... The Draft Insolvency Law (hereinafter, The "Draft Insolvency Law") is at a very ...
www.mondaq.com/i_article.asp_Q_articleid_E_15240

The new "Ley Concursal" abolishes the four proceedings of the former law ("quiebra," "concurso de acreedores", "suspensión de pagos" and "quita y espera"), establishing a single insolvency proceeding:

"The Draft Insolvency Law only foresees one insolvency proceeding: the "concurso", which implies leaving behind the current Spanish insolvency proceedings; mainly, regarding legal persons, the "suspension of payments" and the "bankruptcy" proceedings. The word "concurso" comes from the Latin "concursus", which may be translated into English as "concurrence". This word clearly conveys the idea of concurrence of creditors and, for lack of a better word in English, I believe the word "concurso" should be translated in this context as "insolvency"."


http://www.mondaq.com/i_article.asp?articleid=15240&login=tr...

Hope this was what you were looking for.

Rebecca Jowers
Spain
Local time: 20:47
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 51
Grading comment
Thank you. Your answer has been very helpful.
Login to enter a peer comment (or grade)

7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
spain's new bankruptcy act
"La Nueva Ley de Bancarrota en España"


Explanation:
2006 La Nueva Ley de Bancarrota - Las nuevas normativas para declarar bancarrota han complicado el ... El Marketing para Despachos de Abogados en España ...
www.abogada.com/abogados/Users/4/Bancarrota/ - 35k - En caché - Páginas similares
Terra TV - Videos - News | Podrían reformar la ley de bancarrota28 Ene 2009 ... Intentan reformar el capítulo 13 de la ley de bancarrota el cual ... La nueva administración del presidente Obama trae muchos cambios y con estos ... Un matrimonio de España vive en su camioneta tras ser desalojado de su ...
terratv.terra.com/templates/channelContents.aspx?channel=121&contentid=90570 - 68k - En caché - Páginas similares
- BancarrotaEntra en vigor la nueva ley de quiebras. Declarar la bancarrota será más difícil. Univision Online y Agencias 14 de Octubre de 2005 ...
www.univision.com/content/content.jhtml?cid=565919 - 56k - En caché - Páginas similares
Para cuando la Bancarrota de la UE? « NUEVA EUROPA- Nueva EurabiaEspaña:Las mamás posan desnudas para que los niños tengan una escuela decente · Clérigo egipcio justifica .... einheriar en Nuevo proyecto de ley para la … ...
yahel.wordpress.com/2009/01/22/para-cuando-la-bancarrota-de-la-ue/ - 105k - En caché - Páginas similares

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Note added at 8 mins (2009-02-06 00:02:20 GMT)
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Saludos, Law Student :))

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Note added at 23 hrs (2009-02-06 23:00:00 GMT)
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IndyMac, que se acogió a la protección que ofrece la Ley de Bancarrota de ... Zapatero promueve la colaboración española para ampliar el Canal de Panamá ...
www.adn.es/dinero/20080801/IMA-3345-Bancarrota-IndyMac-Banc... - 59k - En caché - Páginas similares

eski
Mexico
Local time: 13:47
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 394

Peer comments on this answer (and responses from the answerer)
agree  purificaci
41 mins
  -> Muchas gracias por tu confirmación, y Saludos, purifcaci :))

agree  German Hernandez
1 hr
  -> Thanks German, I appreciate your backing. Saludos :))

disagree  Rebecca Jowers: This is a "Spain-specific" question and "bancarrota" is not used in Spain, while "quiebra" and "quebrado" have been eliminated from this law. "Concursal" is translated as "insolvency". (Please see my comments)
6 hrs
  -> thnx.

agree  Sgallomuniz: Coincido. Saludos, Silvia
15 hrs
  -> Muchas gracias y Saludos. :))

disagree  Seth Phillips: Agree with Rebecca. In addition to her comment, Spain's Ley Concurso only entails one single insolvency procedure (concurso de acreedores)
2384 days
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Changes made by editors
Feb 7, 2009 - Changes made by Rebecca Jowers:
Created KOG entryKudoZ term » KOG term
Feb 6, 2009 - Changes made by Henry Hinds:
LevelNon-PRO » PRO


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